Webster Personal Loans Review

Webster Personal Loans ReviewWebster Personal Loans says they can get you up to $25,000 and give you fixed monthly payments if you qualify for one of their personal loans. It’s important to point out that this is not your typical payday loan, but rather a personal loan, because you will not find a payday loan company that will lend you this large amount of money and give you monthly payments.

They are able to give small business loans as well as personal loans. They say you can get rates that are as low as 8.49% APR, and that the interest rate is fixed for the period of the loan. They say that you can set up automatic payments so that you can get a discounted rate. They also say that you can apply for a loan online, and you can get a loan that you’ll have to pay back over a five-year time period.

When you are trying to take out a loan you should make sure that you really do need a payday loan, and there isn’t another loan out there that can meet your needs where you pay less money back to the lender for the same amount borrowed. Remember that they say they can get you up to $25,000 dollars, but that is the limit not the minimum. If you need a smaller amount, it will be easier to qualify for a smaller amount than for this large amount.

Webster Personal Loans Review – Larger Loan Limits

Webster Personal Loans goes on to say that you can get a loan that can be used to make large or small purchases, and that your installment payments are fixed so that you pay the same amount each month for the entire period of the loan. They say that most people use the funds from a loan to make improvements on the home, to consolidate debts, to pay college tuition, to purchase a new car, to pay for a wedding, or to handle any medical or dental expenses that aren’t covered by insurance.

Personal Means Personal
How you use the money is entirely up to you of course, that’s why it’s called a personal loan. If you were to take out a business loan you may have to present a business plan and let them know how are you some plans to use the money, but since it is a personal loan you are not required to give them a reason for taking out the money, they are just interested in getting you approve so that you can make your payment back to them.

Credit Approval
One thing that you’ll notice quickly is that unlike a payday loan these loans are subject to a credit approval, and that makes sense because they are a loan you for more than you could ever pay back on your next pay day, unless you are want 1 of the 1 percent out there. For most of us this is a loan that is large enough to cover most any expenses you can think of, and a 5 year pay back. Is something that is pretty substantial considering your typical payday loan is only 42 weeks.

Benefits to This Loan
Of course there are obvious benefits to taking out a loan it is large enough to cover all of your different expenses, rather than taking out the same smaller figure again again, and paying interest on it and cheese on it again and again. There isn’t a credit check when you get a payday loans, but you end up paying for that convenience later with higher fees. This is the sort of loan that splits the difference between going with a traditional bank loan, and taking out a payday loan.

Our Recommendation
Webster Personal Loans deserves a closer look if you are in the market for a large loan amount, and want to pay back over monthly installments. While this is very different than a payday loan, you should consider all of your different options before making a decision to take out a loan, and if you are able to qualify for a loan like this, you should see if the numbers make sense and if this is a better deal than a payday loan.

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